Tag: evidence

The Difficult Path to Investment Success

“[To be a superior investor,] this is the bottom line: not whether you dare to be different or to be wrong, but whether you dare to look wrong.” – Howard […]

Are Markets Efficient?

When I tell people that I use index funds and ETFs to build my clients’ portfolios, they seem a bit surprised that I would consider markets to be efficient. Many […]

Asset Allocation with Value and Momentum

Last time, we discussed the overwhelming evidence that investors fail to beat a long-term asset allocation strategy (or “Basic Strategy”), by picking funds or stocks to their own detriment. Following […]

What Makes Investing So Hard?

Anyone willing to do some research on how to invest will eventually find the relatively simple approach that most experts recommend to individuals. Like in Blackjack, let’s call this Basic Strategy:

Should You Dollar Cost Average?

When faced with a large windfall, most investors naturally rely on Dollar Cost Averaging (DCA) to gradually invest their portfolio. The touted benefits of DCA are usually (1) avoiding a […]